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Re:Orthodox Privilege by tanseydavid on Wednesday July 15, 2020 @09:43PM (#23854806)
The term is in fact, commonly, but not always used in a pejorative manner. From Wikipedia:

"In the 21st century, WASP is often applied as a derogatory label to those with social privilege who are perceived to be snobbish and exclusive, such as being members of restrictive private social clubs.[63] A number of popular jokes ridicule those thought to fit the stereotype.[84]"

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